Group 1 - The company, China State Construction International (03311.HK), announced that it will hold a board meeting on August 20, 2025, to approve its unaudited interim results for the six months ending June 30, 2025 [1] - The meeting will also consider the declaration of an interim dividend, if any [1]

( 於開曼群島註冊成立之有限公司 ) (股份代號 : 3311) 董事局會議召開日期 中國建築國際集團有限公司(「本公司」)董事局(「董事局」)謹此宣佈，本公司 將於二零二五年八月二十日(星期三)舉行董事局會議，藉以(其中包括)批准本公 司及其附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績及其 發佈，以及考慮派付中期股息(如有)。 承董事局命 中國建築國際集團有限公司 主席兼執行董事 張海鵬 香港，二零二五年八月八日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 於本公告日期，董事局成員包括主席兼執行董事張海鵬先生；非執行董事顏建國先生及叶楠先 生；執行董事王曉光先生（行政總裁）及孔祥兆先生；及獨立非執行董事王惠貞女士、陳子政先 生及陳帆先生。 ...

智通财经APP获悉，香港联交所最新资料显示，8月5日，GlC Private Limited减持中国建筑国际 (03311)47万股，每股作价11.6414港元，总金额约为547.15万港元。减持后最新持股数目约为3.69亿股， 持股比例为6.99%。 ...

香港联交所最新资料显示，8月5日，GlC Private Limited减持中国建筑国际(03311)47万股，每股作价 11.6414港元，总金额约为547.15万港元。减持后最新持股数目约为3.69亿股，持股比例为6.99%。 ...

Core Viewpoint - The investigation report on the high-altitude fall accident at the construction site in Bao'an District, Shenzhen, indicates that the incident was caused by workers' violation of safety regulations and inadequate safety management at the construction site, resulting in one fatality [1][4]. Incident Overview - The construction project received its construction permit on April 23, 2023, and was at the rough decoration stage when the accident occurred [2]. - The total contractor, China State Construction Engineering Corporation South China Group, signed a subcontract with Yuan Chuang Construction Co., Ltd. for rough decoration work in June 2024 [2]. - The accident occurred on April 21, 2025, when a worker fell approximately 26.2 meters from the elevator shaft due to the removal of safety barriers [3][4]. Responsibility Assignment - The investigation identified direct responsibility for the accident with the deceased worker, suggesting no further action due to his death [5]. - The project manager from Yuan Chuang Construction, who failed to enforce safety protocols, is recommended for administrative penalties [5][6]. - Both Yuan Chuang Construction and China State Construction Engineering Corporation South China Group are held accountable for inadequate safety management and oversight [6]. Administrative Penalties - On July 7, 2025, China State Construction Engineering Corporation South China Group was fined 30,000 RMB for poor safety management [7]. - Yuan Chuang Construction Co., Ltd. faced a fine of 550,000 RMB for failing to fulfill safety responsibilities and not enforcing safety measures [7]. Company Background - Yuan Chuang Construction Co., Ltd. was established in 2020 with a registered capital of 50 million RMB, primarily engaged in the construction industry [8]. - China State Construction Engineering Corporation South China Group, a member of China State Construction Group, was founded in 2019 with a registered capital of 100 million RMB [8].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國建築國際集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03311 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 60,000,000,000 | HKD | | 0.025 | HKD | | 1,500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 60,000,000,000 | HKD | | 0.025 | HKD | | 1,500,000,000 ...

Core Points - The successful topping out of the main structure of the Qindao Metro Line 15 project at the Gouchazhan station marks a significant milestone in the construction process, laying a solid foundation for subsequent engineering progress [1] - Gouchazhan station, located in the Chengyang District, is a key node in the Qingdao metro network, playing an important role in improving the urban public transport system and alleviating regional traffic pressure [1] Summary by Sections Construction Progress - The project team has effectively overcome multiple challenges since the start of construction, ensuring steady progress across various phases [1] - The complex hydrogeological conditions at the site, including a fractured rock layer over 60 meters and a 6-8 meter thick water-rich sand layer within an 80-meter range, posed significant challenges [1] - Ground grouting reinforcement measures were implemented to reduce pit risks, and the excavation plan was optimized to ensure safety during construction [1] Monitoring and Safety Measures - The construction faced severe challenges due to the proximity of existing lines, with the nearest point being only 6 meters away [1] - Over a hundred automated monitoring points were established for real-time monitoring, and excavation was conducted in a "middle to outward" sequence to minimize vibrations [1] Resource Management and Quality Control - Increased resource investment and optimized construction scheduling allowed for the completion of the complex structure in just two and a half months [2] - The project team implemented strict control over concrete raw materials, mix ratios, and construction processes to meet high-performance concrete standards [2] - The application of the "2345" work method and "small legislation + secondary distribution" mechanism effectively motivated teams and improved processes, avoiding quality issues [2] Future Plans - The project team aims to strengthen safety and quality control, refine construction process management, and maintain high standards in the ongoing work to contribute to the development of a first-class metro system [2]

Core Insights - The construction industry is officially entering a platform period, with infrastructure investment maintaining resilience but showing signs of decline in revenue among major state-owned enterprises [5][28][30] - The overall investment tone for infrastructure in the second half of 2025 will focus on stability, supported by proactive fiscal policies and accelerated government bond issuance [2][37] - Structural opportunities are emerging, particularly in manufacturing, power, water conservancy, and water transport sectors, driven by special government bonds [5][6] Industry Overview - The construction industry has seen a decline in total revenue for the first time in 2024, confirming a turning point for the industry [30] - The total revenue for the construction industry in 2024 was 86,962.78 billion, a decrease of 4.29% year-on-year, with net profit dropping by 13.74% [30][32] - The share of real estate in GDP has been declining since its peak in 2021, while infrastructure investment has been rising but not enough to offset the decline in real estate [26][28] Investment Strategy - Long-term investment should focus on manufacturing-oriented companies like Honglu Steel Structure, while short-term strategies should prioritize high-dividend stocks and significant changes in individual companies [6][7] - The report emphasizes the importance of structural opportunities in the construction sector, particularly in areas aligned with national strategic initiatives and safety capabilities [60] State-Owned Enterprises - There is a growing divergence among state-owned construction enterprises, with only a few, such as China State Construction and China Energy Engineering, showing positive growth in Q1 2024 [7][28] - The report recommends focusing on companies with strong dividend stability and growth potential, such as China Chemical Engineering and China Communications Construction [7][8] Professional Engineering and International Opportunities - The international engineering sector is expected to benefit from ongoing orders and the deepening of cooperation along the Belt and Road Initiative [8] - Companies like China National Materials and China Steel International are highlighted for their low valuations and high dividend yields, indicating strong performance potential [8] Mergers and Acquisitions - The construction industry is moving towards maturity, necessitating mergers and acquisitions to find new growth points [10] - The report anticipates that future mergers will primarily come from smaller, weaker segments of the industry, such as design and decoration [10]

Group 1 - The "Guangdong-Hong Kong Modular Construction Industry Development Week" was inaugurated in Hong Kong, marking the establishment of the Guangdong-Hong Kong-Macao Modular Construction Industry Development Alliance [1] - The development week includes various activities such as an international conference on modular construction, design workshops, and a press conference for the "Guangdong-Hong Kong Modular Construction Cross-Border Trade Guide" [1][2] - The alliance aims to integrate resources from upstream and downstream enterprises in the industry chain, promoting collaboration and complementary advantages among the Guangdong-Hong Kong-Macao regions [1][3] Group 2 - Guangdong's modular construction products are diverse, with a complete technological pathway and a comprehensive supply chain, contributing positively to Hong Kong's urban construction and livelihood [2] - The Guangdong provincial government plans to promote pilot cities for modular construction and develop a policy standard system, technological pathways, industry structure, and application scenarios unique to Guangdong [2] - The Hong Kong Development Bureau emphasizes the importance of collaboration between Guangdong and Hong Kong to establish the Greater Bay Area as a center for modular construction technology [2][3] Group 3 - The alliance is initiated by the Guangdong Provincial Housing and Urban-Rural Development Department and the Hong Kong Development Bureau, involving various enterprises, universities, research institutions, and industry associations [3] - The alliance aims to create a long-term mechanism for collaborative research on common key technologies and accelerate the transformation and application of technological achievements [3] - The first batch of "Modular Construction Manufacturer Recognition Program" certificates was awarded to eight manufacturers, enhancing the quality of modular construction products and services [3]

Group 1 - The core viewpoint is that China State Construction International (03311) is expected to perform better in terms of profit growth and cash dividend payments compared to its peers affected by infrastructure investment slowdown and local government budget challenges [1][2] - The company achieved 43.3% of its revenue from the Hong Kong and Macau markets last year, with expectations that these markets will contribute over 50% of sales by 2025 [1] - China State Construction's competitive advantage lies in its HKD 2.1 billion positive operating cash flow and a 33% cash dividend payout ratio, which is a significant attraction in the current market [1] Group 2 - The company is considered safer than its peers due to its low involvement in real estate development in mainland China, focusing mainly on infrastructure projects in Hong Kong [2] - It is anticipated that by 2025, the sales contribution from mainland China may drop below 50%, reaching 45%, while the combined contribution from Hong Kong and Macau could surpass that of mainland China [2] - Slight downward adjustments have been made to the company's 2025 sales and net profit forecasts, estimating a year-on-year growth of 13% and 10.1% respectively [2]